Do you qualify for an Age Pension?

The twice-yearly indexation of Age Pension payment rates and other allowances took effect on 20 September 2019. We help you keep track of your entitlements.

•••

Age Pension

Maximum fortnightly Age Pension payment rates

                         Previous          Current            Increase

 Single Base   $843.60          $850.40          $6.80

             Supplement    $68.50            $68.90            $0.40

             Energy Supplement   $14.10            $14.10            —

             Total   $926.20          $933.40          $7.20

 Couple (each)             Base   $635.90          $641   $5.10

             Supplement    $51.60            $51.90            $0.30

             Energy Supplement   $10.60            $10.60            —

Total    $698.10          $703.50          $5.40

 

The Pension Supplement is a fortnightly income support payment to help eligible recipients meet the costs of daily household and living expenses.

Pension Supplement* basic amount

             Previous          Current            Increase

 Single $23.80            $23.90            $0.10

 Couple separated        $23.80            $23.90            $0.10

 Couple (each) $19.60            $19.70            $0.10

Pension Supplement# minimum amount

Previous           Current            Increase

 Single $36.70            $37     $0.30

 Couple separated        $36.70            $37.00            $0.30

 Couple (each) $27.70            $27.90            $0.20

* Pension Supplement basic is for those receiving a pension while overseas.

# Pension Supplement minimum is for those paid a pension under the transitional rules.

Income and asset test changes

Centrelink’s income and asset test limits also changed on 20 September.

Income test limits for Age Pensions

Situation

For full pension/allowance (per fortnight)

For part pension (pf) From 20 September 2019

Single

Up to $172

Less than $2040.80

Couple (combined)

Up to $304

Less than $3122.00

Illness separated (couple combined)

Up to $304

Less than $4041.60

 

Asset test limits for full Age Pensions

Situation

Homeowners

Non-homeowners

Single

$263,250

$473,750

Couple (combined)

$394,500

$605,000

Illness separated (couple combined)

$394,500

$605,000

 

Asset test limits for part Age Pensions

Situation

Homeowners

Non-homeowners

Single

$574,500

$785,000

Couple (combined)

$863,500

$1,074,000

Illness separated (couple combined)

$1,017,000

$1,227,500

 

Low Income Health Care Card

To qualify for a Low Income Health Care Card your eight-week income must be less than the amount that applies to your circumstance on the day you lodge your claim, i.e. you cannot have earned more than the income limit in the previous eight weeks.

 

Qualifying income limits

 Status

 Weekly income

 Eight-week period

 Single, no children

 $564

 $4512

 Couple, no children

 $974

 $7792

 There is no asset test for the card, but it is subject to a six-monthly renewal.

Once you have been granted a Low Income Health Care Card, your weekly income must not exceed the limits detailed below. If you exceed the limit, you lose your entitlement to use the card.

Retaining income limits

 Status

 Weekly income

 Eight-week period

 Single, no children

 $705

 $5640

 Couple, no children

 $1217.50

 $9740

 

Rent assistance

Rent assistance is paid to those who rent privately and receive an income support payment. Those who rent from a housing authority are not eligible.

Rent Assistance rates if you do not have dependent children

Family situation

Maximum payment per fortnight

Maximum payment is paid if your fortnightly rent is more than

No payment if your fortnightly rent is less than

Single

$138

$307.20

$123.20

Single, sharer

$92

$245.87

$123.20

Couple

$130

$372.73

$199.40

One of a couple who are separated due to illness

$138

$307.20

$123.20

One of a couple, temporarily separated

$130

$296.53

$123.20

Newstart rates

Newstart Allowance rates and thresholds were changed on 20 September.

Newstart Allowance payment rates

Family situation

Payment rate (per fortnight)

Single, 60 or over, after nine months

$604.70

Partnered, each

$504.70

Under the income test applied to the Newstart Allowance, you can earn up to $104 per fortnight pre tax, before your payment is affected.

For income levels above $104 but less than $254 per fortnight, your payment will be reduced by 50 cents for every dollar for which you exceed the threshold. For income above $254 per fortnight your payment reduces by 60 cents until you reach the cut-off threshold.

Newstart Allowance thresholds

Family situation

Payment cut-off threshold

Single, 22 or over, no children

$1075.34

Single, 22 or over, with children

$1152.67

Single, 60 or over, after nine months

$1163.00

Partnered, each

$983.34

 

If you enjoy our content, don’t keep it to yourself. Share our free eNews with your friends and encourage them to sign up.

Related articles:
link
link
link

YourLifeChoices Writers
YourLifeChoices Writershttp://www.yourlifechoices.com.au/
YourLifeChoices' team of writers specialise in content that helps Australian over-50s make better decisions about wealth, health, travel and life. It's all in the name. For 22 years, we've been helping older Australians live their best lives.
- Our Partners -

DON'T MISS

- Advertisment -
- Advertisment -